Islamabad, December 16, 2024 – Finance Minister Muhammad Aurangzeb has commended the formal sector for shouldering the brunt of front-loaded tax measures introduced under the government’s economic stabilization program.
(more…)Category: Trade & Industry
This section covers news on trade and industry. Pakistan Revenue is committed to providing the latest updates on business trends.
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SITE Association: Interest Rate Cut Lacks Positive Impact
Karachi, December 16, 2024 – The SITE Association of Industry has rejected the State Bank of Pakistan’s (SBP) recent monetary policy decision, stating that the 200-basis-point reduction in the policy rate will have no meaningful impact on the economy or industrial growth.
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FPCCI Declares 2% Rate Cut Insufficient
Karachi, December 16, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over the recent 2% reduction in the policy rate, terming it insufficient to address Pakistan’s economic challenges. The State Bank of Pakistan (SBP) announced the policy rate cut, reducing it from 15% to 13%, following months of declining inflation.
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KCCI Expresses Disappointment Over Meagre Interest Rate Cut
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) expressed its disappointment over the limited 200 basis points reduction in the interest rate by the State Bank of Pakistan (SBP) on Monday.
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APTMA Urges SBP to Cut Interest Rate to 10% for Revival
The All Pakistan Textile Mills Association (APTMA) has called on the State Bank of Pakistan (SBP) to reduce the benchmark interest rate from the current 15% to 10%, emphasizing that such a move is crucial for revitalizing the economy.
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KATI Advocates for a 5% Reduction in Interest Rates
Karachi, December 13, 2024 – The Korangi Association of Trade and Industry (KATI) has called on the State Bank of Pakistan (SBP) to implement a substantial cut of 500 basis points, or 5%, in the policy rate.
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Traders Lambast KE for Monopoly in Karachi Electricity
Karachi, December 13, 2024 – President of Markazi Tanzeem-e-Tajran Pakistan, Muhammad Kashif Chaudhry, strongly criticized K-Electric (KE) for its monopolistic practices and inadequate service, urging the Karachi Chamber of Commerce and Industry (KCCI) and all trade associations to launch a concerted initiative aimed at addressing the challenges faced by Karachi’s citizens.
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KCCI Presses SBP for Drastic 400bps Interest Rate Cut
Karachi, December 12, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) on Thursday called on the State Bank of Pakistan (SBP) to implement a drastic 400 basis points (bps) cut in the upcoming monetary policy announcement. The demand follows a significant decline in inflation, which dropped to 4.86% in November 2024, marking its lowest level in recent years.
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APTMA Raises Flags on New Customs Clearance
The All Pakistan Textile Mills Association (APTMA) has called on the Federal Board of Revenue (FBR) to revisit the newly proposed customs clearance system in consultation with industry stakeholders. APTMA has emphasized that the changes, if implemented without due consideration, could disrupt industrial operations, hinder exports, and negatively impact Pakistan’s economic landscape.
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Optimism Rises: OICCI Survey Highlights Economic Resilience
Karachi, December 11, 2024 – The Overseas Investors Chamber of Commerce and Industry (OICCI), a representative body of foreign investors in Pakistan, has reported improved business confidence in its latest Business Confidence Index (BCI) Survey – Wave 26. Conducted in October and November 2024, the survey reflects growing optimism among businesses operating across Pakistan.
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